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Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and MASIMO CORP (MASI). Click either name above to swap in a different company.
Circle Internet Group, Inc. is the larger business by last-quarter revenue ($739.8M vs $371.5M, roughly 2.0× MASIMO CORP). Circle Internet Group, Inc. runs the higher net margin — 29.0% vs -27.0%, a 56.0% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs -26.4%). MASIMO CORP produced more free cash flow last quarter ($50.9M vs $-14.7M).
Circle is a payments technology company. Funded by Jeremy Allaire and Sean Neville in 2013, it is currently headquartered in New York City and issues two types of stablecoin: USDC, which has a conversion rate pegged to the U.S. dollar, and EURC, which is euro-denominated. It also issues USYC, a tokenized money market fund.
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
CRCL vs MASI — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $739.8M | $371.5M |
| Net Profit | $214.4M | $-100.4M |
| Gross Margin | — | 62.1% |
| Operating Margin | 11.0% | 22.5% |
| Net Margin | 29.0% | -27.0% |
| Revenue YoY | 5113.5% | -26.4% |
| Net Profit YoY | 202.0% | -1124.5% |
| EPS (diluted) | $0.64 | $-1.84 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | $739.8M | $371.5M | ||
| Q2 25 | $658.1M | $370.9M | ||
| Q1 25 | — | $372.0M | ||
| Q4 24 | — | $600.7M | ||
| Q3 24 | — | $504.6M | ||
| Q2 24 | $6.8M | $496.3M | ||
| Q1 24 | — | $492.8M | ||
| Q4 23 | — | $548.9M |
| Q3 25 | $214.4M | $-100.4M | ||
| Q2 25 | $-482.1M | $51.3M | ||
| Q1 25 | — | $-170.7M | ||
| Q4 24 | — | $-349.6M | ||
| Q3 24 | — | $9.8M | ||
| Q2 24 | $32.9M | $16.0M | ||
| Q1 24 | — | $18.9M | ||
| Q4 23 | — | $33.9M |
| Q3 25 | — | 62.1% | ||
| Q2 25 | — | 62.9% | ||
| Q1 25 | — | 62.9% | ||
| Q4 24 | — | 40.7% | ||
| Q3 24 | — | 52.2% | ||
| Q2 24 | — | 51.3% | ||
| Q1 24 | — | 49.0% | ||
| Q4 23 | — | 47.9% |
| Q3 25 | 11.0% | 22.5% | ||
| Q2 25 | -49.5% | 17.4% | ||
| Q1 25 | — | 21.0% | ||
| Q4 24 | — | -59.8% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | — | 6.9% | ||
| Q4 23 | — | 8.0% |
| Q3 25 | 29.0% | -27.0% | ||
| Q2 25 | -73.3% | 13.8% | ||
| Q1 25 | — | -45.9% | ||
| Q4 24 | — | -58.2% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | 486.5% | 3.2% | ||
| Q1 24 | — | 3.8% | ||
| Q4 23 | — | 6.2% |
| Q3 25 | $0.64 | $-1.84 | ||
| Q2 25 | $-4.48 | $0.94 | ||
| Q1 25 | — | $-3.12 | ||
| Q4 24 | — | $-6.54 | ||
| Q3 24 | — | $0.18 | ||
| Q2 24 | $0.00 | $0.29 | ||
| Q1 24 | — | $0.35 | ||
| Q4 23 | — | $0.63 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $312.3M |
| Total DebtLower is stronger | — | $559.1M |
| Stockholders' EquityBook value | $3.0B | $810.0M |
| Total Assets | $76.8B | $1.8B |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $1.3B | $312.3M | ||
| Q2 25 | $1.1B | $149.6M | ||
| Q1 25 | — | $130.8M | ||
| Q4 24 | — | $177.6M | ||
| Q3 24 | — | $158.5M | ||
| Q2 24 | $457.5M | $129.6M | ||
| Q1 24 | — | $157.6M | ||
| Q4 23 | — | $163.0M |
| Q3 25 | — | $559.1M | ||
| Q2 25 | — | $613.7M | ||
| Q1 25 | — | $651.0M | ||
| Q4 24 | — | $765.2M | ||
| Q3 24 | — | $772.6M | ||
| Q2 24 | — | $781.6M | ||
| Q1 24 | — | $876.0M | ||
| Q4 23 | — | $906.0M |
| Q3 25 | $3.0B | $810.0M | ||
| Q2 25 | $2.4B | $1.0B | ||
| Q1 25 | — | $946.4M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | $460.9M | $1.4B | ||
| Q1 24 | — | $1.4B | ||
| Q4 23 | — | $1.4B |
| Q3 25 | $76.8B | $1.8B | ||
| Q2 25 | $64.2B | $2.4B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | — | $3.0B | ||
| Q4 23 | — | $3.0B |
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.64× | ||
| Q4 23 | — | 0.66× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-10.7M | $56.8M |
| Free Cash FlowOCF − Capex | $-14.7M | $50.9M |
| FCF MarginFCF / Revenue | -2.0% | 13.7% |
| Capex IntensityCapex / Revenue | 0.5% | 1.6% |
| Cash ConversionOCF / Net Profit | -0.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $191.0M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-10.7M | $56.8M | ||
| Q2 25 | $303.7M | $69.4M | ||
| Q1 25 | — | $31.1M | ||
| Q4 24 | — | $50.5M | ||
| Q3 24 | — | $25.6M | ||
| Q2 24 | — | $74.5M | ||
| Q1 24 | — | $45.8M | ||
| Q4 23 | — | $77.1M |
| Q3 25 | $-14.7M | $50.9M | ||
| Q2 25 | $296.3M | $65.6M | ||
| Q1 25 | — | $28.5M | ||
| Q4 24 | — | $46.0M | ||
| Q3 24 | — | $16.9M | ||
| Q2 24 | — | $66.9M | ||
| Q1 24 | — | $37.6M | ||
| Q4 23 | — | $66.2M |
| Q3 25 | -2.0% | 13.7% | ||
| Q2 25 | 45.0% | 17.7% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 7.7% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | 13.5% | ||
| Q1 24 | — | 7.6% | ||
| Q4 23 | — | 12.1% |
| Q3 25 | 0.5% | 1.6% | ||
| Q2 25 | 1.1% | 1.0% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 1.7% | ||
| Q4 23 | — | 2.0% |
| Q3 25 | -0.05× | — | ||
| Q2 25 | — | 1.35× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.61× | ||
| Q2 24 | — | 4.66× | ||
| Q1 24 | — | 2.42× | ||
| Q4 23 | — | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
